Global crypto spot trading volume plunges to $1.59 trillion in November... lowest in five months
Summary
- The global centralized exchange (CEX) spot trading volume in November was $1.59 trillion, marking the lowest level in five months.
- Trading volume fell 26.7% compared with the previous month, highlighting a broad contraction in the market.
- Experts diagnosed that factors such as the disappearance of volatility, profit-taking, and liquidity compression have led the market into a post-rally cooling period.
November's global centralized exchange (CEX) spot trading volume hit its lowest level since June.
On the 1st (local time), according to The Block, last month global CEX spot trading volume fell to $1.59 trillion, marking the lowest level in five months. This was a 26.7% decrease from October ($2.17 trillion), reflecting a pronounced contraction in trading across the market last month.
The top spot in total volume was Binance, which recorded $599.3 billion in November. However, it fell sharply from $810.4 billion in October, mirroring the general market slowdown. Bybit followed in second with $105.8 billion, Gate.io ($96.7 billion), and Coinbase ($93.4 billion) came next.
Vincent Liu, Chief Investment Officer (CIO) at Chronos Research, told The Block, "After the October rally, market heat cooled and trading volume dropped sharply," diagnosing that "the disappearance of volatility, profit-taking, and liquidity compression combined to create a typical 'post-rally cooling period'."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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